Vampire Squid Says Gold Is Better Than Bitcoin

Tuesday, October 17, 2017
By Paul Martin

SilverDoctors.com
October 17, 2017

“Gold wins out over cryptocurrencies when assessed on the majority of the key characteristics of money” Here’s what else Goldman says…

by Ranjeetha Pakiam via Bloomberg:

Gold wins out over cryptocurrencies when assessed on the majority of the key characteristics of money, according to Goldman Sachs Group Inc., which adds that fear and wealth are the core drivers of bullion.

“Precious metals remain a relevant asset class in modern portfolios, despite their lack of yield,” analysts including Jeffrey Currie and Michael Hinds wrote. “They are neither a historic accident or a relic.” Looking at properties such as durability and intrinsic value, they are still relevant even with new materials discovered and new assets emerging, such as cryptocurrencies, they said.

Investors boost the amount of gold in their portfolio as uncertainty increases, making fear the key medium to short-run driver, Goldman said. Wealth is the long-term driver, especially in emerging markets such as China, where growing income levels over the next few decades will support prices, it said in a report.

Here’s the USD priced historical gold chart, non-inflation adjusted going back 100 years:

The Rest…HERE

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